Raymond James Financial Inc. Purchases New Position in The St. Joe Company (NYSE:JOE)

Raymond James Financial Inc. acquired a new stake in The St. Joe Company (NYSE:JOE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 103,639 shares of the financial services provider’s stock, valued at approximately $4,657,000.

A number of other hedge funds have also recently added to or reduced their stakes in JOE. Arete Wealth Advisors LLC lifted its stake in shares of St. Joe by 5.1% in the 4th quarter. Arete Wealth Advisors LLC now owns 5,047 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 243 shares during the last quarter. Carmel Capital Partners LLC increased its holdings in St. Joe by 4.6% in the 4th quarter. Carmel Capital Partners LLC now owns 8,516 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 375 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of St. Joe by 277.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 585 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 430 shares in the last quarter. Legacy Capital Group California Inc. grew its holdings in shares of St. Joe by 12.4% during the fourth quarter. Legacy Capital Group California Inc. now owns 4,899 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 540 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of St. Joe by 38.8% in the fourth quarter. KBC Group NV now owns 2,059 shares of the financial services provider’s stock valued at $93,000 after buying an additional 576 shares during the period. Institutional investors and hedge funds own 86.67% of the company’s stock.

St. Joe Stock Up 1.1 %

NYSE:JOE opened at $42.57 on Friday. The St. Joe Company has a one year low of $40.19 and a one year high of $64.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $2.48 billion, a PE ratio of 36.08 and a beta of 1.28. The firm’s 50 day simple moving average is $45.00 and its 200 day simple moving average is $47.96.

St. Joe (NYSE:JOE) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.30 EPS for the quarter. The company had revenue of $94.20 million for the quarter. St. Joe had a net margin of 17.76% and a return on equity of 9.58%.

St. Joe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.56 annualized dividend and a dividend yield of 1.32%. St. Joe’s payout ratio is 44.09%.

Insider Transactions at St. Joe

In related news, major shareholder Bruce R. Berkowitz sold 95,700 shares of St. Joe stock in a transaction on Friday, March 7th. The shares were sold at an average price of $47.11, for a total transaction of $4,508,427.00. Following the completion of the transaction, the insider now owns 17,162,524 shares of the company’s stock, valued at $808,526,505.64. This trade represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 300,000 shares of company stock worth $14,113,022 over the last ninety days. 38.80% of the stock is owned by insiders.

St. Joe Profile

The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.